HomeResearch & Knowledgeback to HomeFamily Businessback to Research & KnowledgeEstafeta: From fragmented ownership to developing commitment as responsible owners facing challenges in an uncertain business environment in Mexicoback to Family Business

Case Study

Estafeta: From fragmented ownership to developing commitment as responsible owners facing challenges in an uncertain business environment in Mexico

By Denise H. Kenyon-Rouvinez, Oscar Howell-Fernández and Jung Eung Park

11 pages

October 2019

Order this case study

Reference: IMD-7-2101

Estafeta is a parcel delivery service provider in Mexico. Founded in 1979 by Gerd Grimm (an old wolf as he described himself) and his partners, the company has gone through unpredictable regulatory, legislative and fiscal environment in Mexico. As a German immigrant, Grimm combined the traditional long-held principles of the Mittelstand (German middle-size enterprise) with the new realities of an uncertain Mexican business environment. The combination of crisis-driven innovation and conservative business practices was successful so that Estafeta has hold its strong position in the domestic market against all the international major players like DHL and FedEx. After Mr. Grimm ́s death in 2013, Estafeta’s control ownership was orderly transferred to the four siblings in the founder’s family. In the process, the Grimm family has developed the governance protocols, formed the Family Council and assumed control of the Board of Directors. The transfer of power has not created immediate problems, but the divided ownership (also to three executives) structure could become an obstacle for future strategic decision-making. This case focuses how the second-generation family members discuss together and develop the governance structure to handle the ownership alignment. The readers will learn how the family try to become the responsible owners of the business with long-term vision in the uncertain Mexican environment.

Learning Objective

The process of establishing family governance with proactive communication to align the vision as responsible owners
How to thrive the business in the uncertain and unsecured [Mexican] environment.
The political and geographical situations impact the decision around the short and long-term visions.

Keywords

Strategy, Family Business, Entrepreneurship

Settings

America, Mexico
Estafeta, Logistics and Supply Chain
2013-2019

Type

Field Research

Available Languages

English

IMD case studies are distributed through case clearing houses. In order to browse the collection and purchase copies please visit the links below.

The Case Centre

Cranfield University

Wharley End Beds MK43 0JR, UK
Tel +44 (0)1234 750903
Email [email protected]

Harvard Business School Publishing

60 Harvard Way, Boston MA 02163, USA
Tel (800) 545-7685 Tel (617)-783-7600
Fax (617) 783-7666
Email [email protected]

Asia Pacific Case Center

NUCB Business School

1-3-1 Nishiki Naka
Nagoya Aichi, Japan 460-0003
Tel +81 52 20 38 111
Email [email protected]

IMD retains all proprietary interests in its case studies and notes. Without prior written permission, IMD cases and notes may not be reproduced, used, translated, included in books or other publications, distributed in any form or by any means, stored in a database or in other retrieval systems. For additional copyright information related to case studies, please contact Case Services.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Keep reading

Article

Convenience store takeover: does 7-Eleven bid herald an unprecedented wave of M&A in Japan?

Bid for iconic Japanese convenience store chain could mean beginning of foreign M&As in Japan

Strategy

By Patrick Reinmoeller

in I by IMD

Article

What pension funds could learn from Yale

Pension funds can unlock the potential of venture capital by adapting the successful endowment model, managing risks and illiquidity for long-term growth and stability.

Economics Finance Growth Strategy Venture Capital

By Raphaël Grieco

in I by IMD

Article

From pledge to performance: using design thinking to achieve sustainability goals

How business design thinking can transform sustainability strategies into actionable plans.

Business Transformation Innovation Organizational Change Strategy Sustainability

By Morten B. Pedersen and Jan van der Kaaij

in I by IMD

Article

The mandate for innovation: Setting the stage for success

Getting buy-in for a clear mandate can transform your organization's approach to innovation. The first in a three part series of articles looking at the complexities of corporate innovation,

Strategy

By Joep de Caluwé and Stephen Parkins

in I by IMD

Case Study

Entrepreneurship through acquisition: Vanessa Monestel’s search fund

GENEVA (SWITZERLAND), OCTOBER 2023. Vanessa Monestel was ecstatic. a day earlier, she had just signed the letter of intent (LOI) to acquire an Amsterdam-based fashion company. This was the culmination of her 18-month search for a company to acquir...

Entrepreneurship Finance Strategy

By Benoit F. Leleux, Joseph Kovacs, Kristel Rouiller, Sebastien Braun and Thierry Meouchi

Video

“Take risks. Take decisions. Learn, adapt, and move forward.”

The former CEO of Shell and Chairman of the Board of Directors at ABB and PSA shares his personal insights from leading companies through crisis

Business Transformation Communication Crisis Management Leadership Strategy Team Dynamics

By Peter Voser

in I by IMD

Case Study

Entrepreneurship through acquisition: Sébastien Perroud and the IAR Group

GENEVA (SWITZERLAND), AUGUST 2021. There was a lot at stake for Sébastien. This was the culmination of his 18-month NCA supported search journey to find a company to acquire. Instead of a single target, he was now faced with the prospect of acquir...

Entrepreneurship Finance Strategy

By Benoit F. Leleux, Dominik Hanslin, Iuliia Mordacheva, Matthias Rey and Frank Schuster

Article

Se il manager sceglie di centralizzare la catena decisionale

September 2024 marks a turning point in corporate management and a drama in the management world, which began with an essay by Paul Graham, patron of Silicon Valley's leading startup incubator, Y Combinator.Graham coins a new paradigm, the founder...

Family Business Team Dynamics Organizational Behavior Leadership

By Alfredo De Massis and Paolo Lacchè

in Il Sole 24 ore

21 November 2024

Article

Essential strategies for thriving in a family business

Entrepreneurial families play a vital role in shaping the global economy and society. These families, engaged in creating and managing businesses across generations, share a commitment to long-term growth, wealth preservation, and legacy building.

Family Business Entrepreneurship

By Alfredo De Massis

in Entrepreneur

18 November 2024

Case Study

HeliService International: Flying ahead

Entrepreneurship Mergers and Acquisitions Strategy

By Benoit F. Leleux, Stephanie Herzog, Christian Hutter, Markos Vidalis and Selmona Walder

What pension funds could learn from Yale

By Raphaël Grieco
in I by IMD

Summary

Pension funds can unlock the potential of venture capital by adapting the successful endowment model, managing risks and illiquidity for long-term growth and stability.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Economics

Finance

Growth

Strategy

Venture Capital

Browse all topics

From pledge to performance: using design thinking to achieve sustainability goals

By Morten B. Pedersen and Jan van der Kaaij
in I by IMD

Summary

How business design thinking can transform sustainability strategies into actionable plans.

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Business Transformation

Innovation

Organizational Change

Strategy

Sustainability

Browse all topics

Entrepreneurship through acquisition: Vanessa Monestel’s search fund

By Benoit F. Leleux Joseph Kovacs Kristel Rouiller Sebastien Braun and Thierry Meouchi
Case reference: IMD-7-2514 ©2024

Summary

Reference IMD-7-2514

Organization Novastone Capital Advisors

Industry Finance and Insurance, Private Equity

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Entrepreneurship

Finance

Strategy

Browse all topics

“Take risks. Take decisions. Learn, adapt, and move forward.”

By Peter Voser
in I by IMD

Summary

The former CEO of Shell and Chairman of the Board of Directors at ABB and PSA shares his personal insights from leading companies through crisis

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Business Transformation

Communication

Crisis Management

Leadership

Strategy

Team Dynamics

Browse all topics

Entrepreneurship through acquisition: Sébastien Perroud and the IAR Group

By Benoit F. Leleux Dominik Hanslin Iuliia Mordacheva Matthias Rey and Frank Schuster
Case reference: IMD-7-2515 ©2024

Summary

Reference IMD-7-2515

Organization IAR Group

Industry Finance and Insurance, Private Equity

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Entrepreneurship

Finance

Strategy

Browse all topics

Se il manager sceglie di centralizzare la catena decisionale

By Alfredo De Massis and Paolo Lacchè
in Il Sole 24 ore 21 November 2024

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Family Business

Team Dynamics

Organizational Behavior

Leadership

Browse all topics

Essential strategies for thriving in a family business

By Alfredo De Massis
in Entrepreneur 18 November 2024

Summary

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Family Business

Entrepreneurship

Browse all topics

HeliService International: Flying ahead

By Benoit F. Leleux Stephanie Herzog Christian Hutter Markos Vidalis and Selmona Walder
Case reference: IMD-7-2601 ©2024

Summary

The case follows Oliver Freiland, a former Roland Berger consultant with a successful corporate career, in his quest for the right acquisition target. In 2015 Oliver finally took a leap of faith to buy his way into entrepreneurship by acquiring HeliService, a provider of offshore helicopter operations for wind farms in the North Sea, with the help of Hans-Peter Kauderer, a family friend and accomplished entrepreneur. The transaction did not go as smoothly as envisioned but did close in August 2016. Oliver then proceeded to add new revenue streams to the marginally profitable entity, such as third-party maintenance and new markets to expand into. The Covid-19 pandemic wreaked havoc with the firm’s operations but when the health crisis was over, the competitive landscape had also changed for the better. Olivier repositioned the company, winning back contracts previously lost in a price war. With a profitable company, it was time to turn to the next issue. Oliver’s investment partner was now over 80 years old and considering an exit. How could Oliver engineer a liquidity event for his partner? What were his options and how could he best prepare the company and himself for that next stage? He was still fully committed to the firm and its bright future, so a trade sale was not particularly appealing. What kind of deal could he put together to keep the dream alive and himself in the driver seat?

Reference IMD-7-2601

Organization HeliService International

Industry Travel and Leisure, Airlines and Aviation

Available Languages English

Contact

Research Information & Knowledge Hub for additional information on IMD publications

Related topics

Entrepreneurship

Mergers and Acquisitions

Strategy

Browse all topics